FxAnalysis

Gold is back in the red early Thursday, after failing to sustain above $4,100 for the fourth time this week.

The Aussie Dollar’s recovery appears to have met some resistance just above the 0.7000 threshold against the US Dollar so far.

The Euro (EUR) is nursing moderate losses against the British Pound (GBP) on Wednesday, as bulls failed to find acceptance above the 0.8575 resistance area on Tuesday.

Gold is attempting a tepid bounce from six-day lows near $4,000 in Wednesday’s Asian trades, awaiting the US Federal Reserve (Fed) monetary policy outcome to determine the next major move.

Spot Gold approached the $4,000 threshold on Tuesday, easing for a second consecutive day after starting the week with a bullish gap.

Overnight, South Korea’s Kospi fell more than 10%, SK Hynix lost close to 15% and Samsung Electronics lost 13%. Into that, Dow Jones Industrial Average futures traded up around 1% on paint and soft drinks, and S&P 500 futures sat roughly flat.